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" otherwise why didn't they just keep Read in place until a new CEO is found? "
They may well be doing that Fleccy .... Margherita Della Valle wants the job ...plus the recent NED Stephen Carter..so it may all be decided internally before April 2023 anyway....possibly up to MDV to show she is up to it from now until then ...in her hands to get the support of the main shareholders .....
Takeover is definite within the realms of speculation
Being bearish on a stock is not whinging Danny boy.
It just means that you think it will go down.
Rob. As I have said many times, I am happy to leave it to those who know what they are talking about, Very good post from Gary by the way. I thought one good thing though, it would stop all the whingers on here, but so far I'm not convinced. Even Mikey doesn't seem very pleased, still going on about ski slopes? There is no pleasing some, once a whinger, always a whinger. What do you think rob, Good news, let's hope so. So what is going replace the sack Nick mantra? Sack ???? Only time will tell. Have a good one.
Thanks "MikeM14" for your answer regarding dividends - It seems to encourage trading a share though rather than investing in it long term for the dividend. There will undoubtedly be opportunities to dip in & out of shares then back before the Ex Div date.
I've just got back in and had some thoughts while I was out and was looking at starting a thread titled Merger/Takeover, but I can see that Takeover's already mentioned in this thread, so I'll share my thoughts here.
What if a takeover/merger is already been agreed in principle?
Read is due to step down at the end of December but will remain in a consulting role until the end of the tax year.
One possibility is that a merger announcement comes along early in the New Year, with an announcement that the CEO of the other company will be named as the CEO of the combined company; Read will get a big consultancy fee for managing the Vodafone side of the merger, with Margherita Della Valle dealing with the day to day running of the Vodafone, during the due diligence and approval part of a deal.
Speculative, but makes sense to me, otherwise why didn't they just keep Read in place until a new CEO is found? It could be Read is making way for the other guy, so there's no battlelines drawn down the road.
It would have to be a big company, maybe one of the big US Telecom companies, or possibly a big tech company looking at moving into the Telecoms space. This is how rumours start lol.
Careful what you wish for. The next one can’t do much better.
The chairman reveals the boards attitude in congratulating Nick for unlocking value of Towers. Selling a key asset essential to your businesses operation is just desperate. The chairman, the board, and investors are just asset stripping to give themselves a few more divs before there is nothing left. The board is now hunting for someone to strip assets faster.
If the new CEO comes in, cancels divs, buybacks and asset sales, streamlines staffing in uk and Germany and tells those operations to get their heads down and try harder on profitability, I will be impressed and may invest, but I doubt it.
Farewell Nick. Enjoy the gardening.
They could sell of Vodacom and merge it with orange Africa or something
" I also wonder if VOD would be considered a critical asset by the government and prevented from takeover."
VOD UK is just a small part of VOD ...so it would only involve that part of the business .... with regards to any UK Government interference ...
Foreign companies own airports , water , electricity ,rail etc etc within the UK ...so one does have to wonder what actually defines "critical asset" anyway
The only surprise is he is staying till next year.
Go now.
* to HELP bankroll the €14.8bn towers business stake
Putting together a "hostile takeover bid" would take a massive amount of work and would need to have the finances in place to be taken seriously to even be considered for announcement .....plus on top of that ..you need a pretty strong plan to get the finances , which at the moment is unlikely due to market conditions ..... PE like GIP and KKR are not going to have the cash for it ..they would seek to raise debt/consortium of lenders ..something the current debtors would have to agree on
..They needed the Saudi Arabia’s sovereign wealth fund to bankroll the €14.8bn towers business stake
Interesting now is if strategic investors like Cevian Capital re-take a stake if they believe the new CFO/CEO intends to move on restructuring ....or ..are they just going to drift along until a new CEO gets appointed
maybe other Middle East investors will take a stake , like Emirates Telecommunications Group did ...or maybe involvement from that Saudi Arabian sovereign wealth fund
not much going to happen until Spring at the earliest I wouldn't imagine
Haha hostile takeover bid for this pile of steaming shxt? It has debts of 40b in a rising interest rate environment, no investment bank would lend any party the money to buy a dog like Vod, especially as once dividend is slaughtered and the numbers in Germany start bleeding off even more these will be down to .65p. Terminal, like U.K. in general.
I agree! but I still think the hostile takeover bid would be at a significant premium to current share price.
I wonder if VOD will introduce an anti-takeover plan like BT did.
I also wonder if VOD would be considered a critical asset by the government and prevented from takeover.
The influencers internally and externally got what they wanted.
I am still of the opinion that loaded PEs and wealthy individuals are looking to snap up dirt cheap assets. Once they have attained the golden portion of the votes, the narrative will, over night, change to one of optimism etc.
Wash, rinse and repeat.
In summary, a hostile take-over attempt is "imminent".
" £19,000 car allowance seems really stingy for a CEO."
probably done for Tax reasons ...tax on Company cars is high, the bigger the car and the more its omissions
Not sure how Dan will feel about this news, maybe it's best we don't tell him ?
Let's just hope the sp will benefit from it in the coming months/years
£19,000 car allowance seems really stingy for a CEO.
" Nick Read will receive his salary and benefits during the remainder of his employment (to 31 March 2023) and thereafter will receive an amount in lieu of his salary, and continued participation in the Vodafone Group Private Medical Plan, during the remainder of his twelve-month notice period. Payments will be made in monthly instalments, subject to any mitigation in accordance with the service contract, until 5 December 2023, when his notice period would otherwise have ended."
He is literally being put on Gardening leave from April 2023 to December 2023 ....they really must have wanted him gone
-------------------------------------------
VOD paid €7.2 billion for ONO in Spain and has never really made any progress or profit there - plus losing the battle for Másmovil to one of the main competitors,Orange .....Evercore now looking to finally sell a stake for VOD there ... a highly competitive pricing market ....
Italy is equally highly price competitive with low cost models
New CEO has to make some real decisions that Read has delayed
Are you serious? Those words " share price perfromance" this actually translate to 50 BILIION wiped off the market value of the company , of course it is why he gone, he has turned the largest mobile phone company by revenue into a tiny here today gone tomorrow bit player.
Hi Kryten1,
Re your posting at 08:23 today, in which you ask:-
"Quick question guy's, as a fairly new investor does the amount of dividend depend on how many days you've held the share. ".
The simple answer is "No". With each dividend payment (with Vodafone there are 2 a year), what it depends on is the dates you held the shares - with each particular payment you either get it in full, or you don't get it at all.
In this case, the dividend was announced on 15 Nov 2022 (if you press the "RNS" symbol near the top of the page, and scroll through the list of announcements for the one dated 15 Nov 2022 you can read their half-year results in which the dividend, with dates, was announced). The "ex-dividend" date was stated as 24 Nov 2022. If you owned the shares on 23 Nov you will get the dividend, whereas if you bought them on 24 Nov or later, you won't get it. The declared dividend was 4.5 Eurocents, and about a week before the date the dividend is due to be paid, there'll be another announcement as to what it will be in Sterling (ie in £/p). It's due to be paid on 3 Feb 2023. Very very roughly, it will be about 4p, but it depends on what the exchange rate does nearer the time.
I hope that helps.
Mike.
92 for me
Bye Bye Nick - hello ski slope
Finally....30% rerate coming now
I don't believe the share price performance is the reason Read is going, usually these things happen when the CEO and Board of Directors disagree on strategy. I expect news will leak out, explaining Read's hasty departure, big market players/investors probably already know the reason, and have driven his ousting.